IP closing Louisiana mill, laying off 550
Memphis Business Journal
International Paper Co. announced Friday the company will close its mill in Bastrop, La., indefinitely and lay off 550 employees.
The company said the decision comes as demand continues to decline for pulp products. IP’s Bastrop mill only produced pulp products and had been previously suffering downtime because of a lack of orders. Company officials said the closure will affect 550 jobs in Louisiana and will cut IP’s annual pulp capacity by 450,000 tons.
The Louisiana mill layoffs come after IP announced similar shut downs at the company’s plants in Stockbridge, Ga., and Hanford, Calif., in October.
About 86 International Paper employees in Stockbridge and 90 in Hanford will be affected by the shutdown which is planed for December.
Also in October, International Paper announced it would close its plant in Mason, Ohio, eliminating 93 jobs, and close a machine at its Albany, Ore., mill, laying off 40.
Based in Memphis, International Paper (NYSE: IP) is the world's largest pulp and paper producer.
Latest News |
Most Viewed Stories |
Most Emailed Stories |
